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Key Facts

Page
Policy Rate
Section
API Data Docs
Canonical URL
https://fxmacrodata.com/api-data-docs/cad/policy_rate
Source
Bank of Canada/StatCan
Last Updated
2016-07-01

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Cite the canonical URL and source field above. Where available, this page maps to official publisher releases and timestamped updates.

What Changed

Latest change vs prior release: 0.0000 (0.00%)

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Central Bank Policy Rate (CAD)

Primary interest rate set by the Central Bank.

Latest reading: 0.5 % · Last updated: · Source: Bank of Canada/StatCan

Category: Monetary Policy

API Endpoint

/api/v1/announcements/cad/policy_rate

Use the production OpenAPI schema for the authoritative REST route metadata.

https://fxmacrodata.com/api/openapi.json

Browse the full endpoint reference

Compare Central Bank Policy Rate across all supported currencies →

Optional Indicator Availability (CAD)

Optional indicators use per-currency fetcher capability checks and may be temporarily hidden while source coverage is being remediated.

foreign_reserves
Unavailable Temporarily hidden for this currency in the API catalogue.
cb_assets
Unavailable Temporarily hidden for this currency in the API catalogue.
inflation_mom
Available

About Central Bank Policy Rate (CAD)

The Canada policy interest rate is the benchmark rate set by the Bank of Canada to influence borrowing costs, credit conditions, and inflation throughout the economy. It is the single most important price in Canada's financial system.

Why FX traders watch it

Policy rate differentials between countries are the primary driver of carry-trade positioning and long-run FX equilibrium. When the Bank of Canada is hiking while others are on hold, the cad typically appreciates on an interest rate differential basis.

How to interpret the data

A surprise rate hike is cad-positive; a surprise cut is negative. Forward guidance and the policy statement accompanying each decision are often more market-moving than the rate change itself, as markets are usually well-positioned for the expected move.

Historical Central Bank Policy Rate (CAD)

Source: Bank of Canada/StatCan  ·  ~8x/year  ·  %

Data provided by FXMacroData via the /api/v1/announcements/cad/policy_rate endpoint. For access, see pricing.

Data Source

Primary Source

Bank of Canada/StatCan

Official Series ID

IOAVG

Data Format and Properties

Data Frequency

~8x/year

Unit of Measure

%

JSON Response Structure

The endpoint returns a chronological list of observations in JSON format. 

{
    "currency": "CAD",
    "indicator": "policy_rate",
    "has_official_forecast": false,
    "start_date": "2023-01-01",
    "end_date": "2023-12-31",
    "data": [
        {
            "date": "2024-07-01",
            "val": 4.2,
            "announcement_datetime": 1722456000
        }
    ]
}

Request Parameters & Usage

Parameter Required Format Description
start_date NO YYYY-MM-DD Optional lower bound for the requested history.
end_date NO YYYY-MM-DD Optional upper bound. Defaults to the current date.
api_key CONDITIONAL string Required for non-USD announcement requests. USD announcement requests are public without an API key.

Example Usage

To retrieve Central Bank Policy Rate data for CAD from 2023: 

GET https://fxmacrodata.com/api/v1/announcements/cad/policy_rate?start_date=2023-01-01&end_date=2023-12-31&api_key=YOUR_API_KEY

Frequently Asked Questions

How do I get the Bank of Canada policy rate history via API?
Policy rate history for Canada is available at /api/v1/announcements/cad/policy_rate, with announcement_datetime for every meeting decision.
What happens to the cad when the Bank of Canada raises rates?
Rate hikes attract capital inflows seeking higher yield, which typically strengthens the cad in the short run. However, very aggressive hikes can raise recession fears and eventually weaken the currency.

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